Economy News

Macy’s Ramps Up Restructuring After Dismal Holiday Season (NYSE:M)

Macy’s Ramps Up Restructuring After Dismal Holiday Season (NYSE:M)

Macy’s executives are not happy with the way the 2015 holiday season went. The company reported that its stores suffered a significant sales decline during the holiday season. Sales at stores open at least a year fell 4.7 percent in November and December, compared with the totals reported during the […]

Yum! Brands Sales in China Rose 1% During December

Yum! Brands Sales in China Rose 1% During December

Yum! Brands Inc, which operates KFC, Pizza Hut and Taco Bell, announced that December sales at same stores were up 1% across China, where a spinoff of operations will take place this year. Sales at comparable stores for KFC were up 5% in China, said the company based in Louisville, […]

JPMorgan Chase Agrees To London Whale Class Action Suit Settlement (NYSE:JPM)

JPMorgan Chase Agrees To London Whale Class Action Suit Settlement (NYSE:JPM)

JPMorgan Chase & Co has agreed to pay $150 million to resolve a class action lawsuit over its London Whale trading scandal that emerged in 2012. The trading scandal caused a $6.2 billion loss, dropped JPMorgan’s share price by roughly one-quarter, and wiped out more than $40 billion of market […]

Factory Activity in Euro Zone Ends with Growth in 2018

Factory Activity in Euro Zone Ends with Growth in 2018

The factory activity across the euro zone ended this past year with growth in each of the countries that were included in a survey that was made public on Monday, suggesting that growth in manufacturing over the past year in general averaged above the last three. However, despite companies cutting […]

Merck Does Not Gain Backing from FDA Panel for Vytorin

Merck Does Not Gain Backing from FDA Panel for Vytorin

Merck & Co should not be given the ok to claim Vytorin, its drug for lowering cholesterol, reduces the risk of strokes or heart attack in patients that have coronary heart disease, said an advisory committee on Monday to the United States Food and Drug Administration. The advisory panel evaluated […]